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Troilus Gold's Southwest Zone Is Project's 'New Center of Gravity'

Source: Streetwise Reports

October 21, 2021 ( Newswire) The explorer's extensive drilling at its Troilus project has resulted in "mineral continuity and [a] new, structurally focused geological model," noted a Laurentian Bank Securities report.

In an Oct. 19 research note, Laurentian Bank Securities analyst
Jacques Wortman reported that Troilus Gold Corp. (TLG:TSX; CHXMF:OTCQX) further extended the Southwest zone mineralization
at its Troilus project, which is "favorable," and new drill results "indicate that the Southwest zone is the new 'center of gravity'" there.

However, "at this point we do not know how much of the mineralization will be included in a new prefeasibility study (PFS) pit shell or what the implications might be on the new proposed mine plan," Wortman added.

The latest set of drill results shows that Troilus Gold keeps expanding the Southwest zone, Wortman wrote. The six reported stepout holes extend the zone along strike by about 25%, to 1.85 kilometers. This extension is to the southwest to roughly 350 meters (350m) beyond known mineralization, included in the 2020 preliminary economic assessment (PEA).

All of the drill holes encountered mineralization, of which grades were equivalent to slightly higher than those in previous Southwest results. Visible gold was seen in hole TLG-SW21-510, which hit 4.9 grams per ton gold equivalent (4.9 g/t Au eq) over 4m, including 1.77 g/t Au eq over 4m and 12.77 g/t Au eq over 1m.

Hole TLG-SW21-530, placed the furthest from the PEA pit shell, hit 1.2 g/t Au eq over 19m and 1.51 g/t Au eq over 11m.

The mineralization encountered in holes TLG-ZSW21-510 and TLG-ZSW21-528 was deep. Thus, they will have to be drilled more to determine if the mineralization continues up to near surface.

Overall, "these results are favorable and again indicate that the Southwest Zone is the new 'center of gravity' at the Troilus project," commented Wortman.

Yet, he pointed out, "We cannot estimate how many additional ounces of gold these results might add based on the available data." A resource estimate is now expected in H1/22, rather than in Q4/21, along with a prefeasibility study (PFS).

Troilus Gold pushed back this report target date due to delays in getting drill results back from the lab and the need to keep drilling, specifically in the Southwest zone and the western extension of the J zone. The explorer is doing just that, drilling those areas with three rigs, completing about 7,000m per month.

Laurentian has a Buy rating and a CA$3 per share target price on Troilus Gold, the current share price of which is around CA$0.87. The investment firm plans to revise its valuation of the exploration company after the PFS comes out.


1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Troilus Gold Corp. Click here for important disclosures about sponsor fees. An affiliate of Streetwise Reports is conducting a digital media marketing campaign for this article on behalf of Troilus Gold Corp. Please click here for more information. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Troilus Gold Corp., a company mentioned in this article.

Disclosures for Laurentian Bank Securities, Troilus Gold Corp., Oct. 19., 2021

"Laurentian Bank Securities Equity Research" is a trade name used by the Equity Research sector of Laurentian Bank Securities Inc. To access Laurentian Bank Securities' regulatory disclosures, please click or press on the hyperlink - The information contained in this document is based on what we deem to be reliable sources, but no guarantee or promise, explicit or implicit, is given as to the accuracy and exhaustiveness of these sources. This report shall under no circumstances be considered an offer to buy or sell, or a request to buy and/or sell the stocks mentioned. Laurentian Bank Securities Inc. and its employees may not be held liable for any monetary losses stemming from the implementation of the recommendations contained in this document. Laurentian Bank Securities Inc. and/or its officers, directors, representatives, traders, analysts and members of their families may hold positions in the stocks mentioned in this document and may buy and/or sell these stocks on the market or otherwise. Stocks in foreign currency may be adversely affected by exchange rate fluctuations. Laurentian Bank Securities Inc. is a wholly-owned subsidiary of Laurentian Bank of Canada. The opinions, projections and estimates are those of the Economic and Financial Research department of Laurentian Bank Securities Inc. as at the date appearing on the cover page, and are subject to change without prior notice. Laurentian Bank Securities Inc. may, in exchange for remuneration, act as a financial advisor or tax consultant for, or participate in the financing of companies mentioned in this document. This study may not be reproduced, in whole or in part, without the consent of Laurentian Bank Securities Inc. Member of the Investment Industry Regulatory Organization of Canada and of the Canadian Investor Protection Fund. The regulation of the securities market establishes requirements that analysts must follow when issuing research reports or making recommendations. These guidelines are included in the research dissemination policy of Laurentian Bank Securities, available at

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